Construction
Performance Bond Insurance Premium
Paying for a bond that guarantees the client that the project will be completed.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Project Insurance / Bond Expense | Expense (+) | 2,000.00 | - |
| Cash / Bank | Asset (-) | - | 2,000.00 |
💡 Accountant's Note
Performance bonds are mandatory for many government tenders in Jordan/KSA. The premium paid to the insurance company is an immediate project cost.
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